Principles, Property, and Land Use Practice Question

Question

A client asks whether a fact should be disclosed for the North Carolina Real Estate Broker Exam involving tenancy in common and material facts and due diligence practice. Which statement is the best answer? (Item 44)

Answer choices

1. A. The affiliated licensee may handle the matter independently without broker responsibility.
2. B. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
3. C. The requirement matters only when the buyer obtains institutional financing.
4. D. Recognize separate inheritable shares without survivorship rights in a way that fits North Carolina exam practice.

Correct Answer

D. Recognize separate inheritable shares without survivorship rights in a way that fits North Carolina exam practice.

Explanation

The correct answer is D because tenancy in common requires candidates to recognize separate inheritable shares without survivorship rights. The North Carolina reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.

Question details

• Difficulty: hard
• Domain: Principles, Property, and Land Use
• Objective: tenancy in common

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